Regulator Ofwat said the amount is a third less than firms asked for.
Equating to a £94 price hike over that period, it is a third less than the increase called for by water providers, according to draft proposals from Ofwat.
Ofwat chief executive David Black said: “Customers want to see radical change in the way water companies care for the environment “We estimate about two million households in England and Wales currently cannot afford their water bill and, while the increase in financial assistance is welcome, it falls short of what is needed."
“Communities spoke loudly at the election, demanding an end to the sewage scandal and water firms stuffing their pockets with bonuses and dividends. The government and regulator must listen to the country.”The proposals are part of the 2024 Price Review and cover the period from 1 April 2025 to 31 March 2030, ahead of a final decision at the end of the year.
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